International

Alibaba and Mail.Ru Group join forces to create “one-stop platform for social, communications, gaming and shopping”

October 15, 2018

Alibaba, Mail.Ru Group, Russian telco MegaFon and sovereign fund Russian Direct Investment Fund (RDIF) today announced a “strategic partnership” that encompasses such a wide area as e-commerce, social media, online entertainment and communications combined. The agreement aims to leverage on the existing businesses of AliExpress Russia, the B2C marketplace owned by Alibaba which controls a …

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Top corporate and government executives to meet innovators in international tech forum (Oct. 15-17)

October 22, 2018

On Oct. 15-17 the Skolkovo tech hub near Moscow will play host to Open Innovations, a huge annual tech forum backed by the Russian government and attracting virtually every player that counts on the Russian market. The forum aims to showcase and  commercialize new technologies, and to create new opportunities and instruments for international cooperation in the …

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AddVenture leads $8 million round for South Korean home cleaning startup Miso

September 8, 2018

AddVenture, a venture fund with Russian roots operating internationally, has led an $8 million Series A round for Miso, a South Korean home-cleaning service app. Also participating in the round, but with undisclosed contributions, were Y Combinator, Strong Ventures, Social Capital, and FundersClub, according to CrunchBase. Miso was the third startup from South Korea to participate …

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Xiaomi launches e-commerce site in Russia

September 11, 2018

In late August Xiaomi, a leading Chinese electronics corporation, launched Mi.com, its official e-commerce site in Russia. The brand’s new Android-powered models — Mi A2 and Mi A2 Lite — will be presented in Russia on the occasion of the launch. The company is planning to continue enlarging its assortment aimed at Russian customers. Besides …

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Rusnano used for Russian intel activity in Silicon Valley, says US media

September 8, 2018

“Russian intelligence has had an intensive interest in San Francisco stretching back to the beginning of the Cold War,” wrote Zach Dorfman in Politico this summer in an in-depth article about foreign intel activity in Silicon Valley. Russians initially aimed at gathering information on local military installations, but as Silicon Valley transformed itself into a …

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Russian authorities press Google to stop “meddling in Russian elections”

September 5, 2018

Two official Russian bodies, the Central Election Commission and the telecom regulator Roskomnadzor, have called Google to stop making its resources available for what they judge to be illegal activities during elections. Thus, the electoral commission has sent a formal letter to Larry Page complaining about Alexey Navalny, an opposition leader, using YouTube to distribute information …

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Credit Bank of Moscow, Visa release payment-enabled rings in Russia

September 4, 2018

Visa and Credit Bank of Moscow have partnered to introduce payment-enabled rings in Russia to allow consumers to make purchases across all contactless-enabled payment terminals. The Visa payment-enabled rings are made of shockproof and waterproof ceramics and require consumers to enter a PIN code when the cost of a purchase exceeds USD 13. If the …

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Sistema’s Asian venture arm invests in Indian health product marketplace

September 15, 2018

Sistema Asia Capital, one of the corporate venturing vehicles of the Russian conglomerate AFK Sistema, and Cambodian investment holding company Tanncam, have invested for the second time in Indian healthcare startup Netmeds. As reported by Techiexperts, they have just participated (with undisclosed contribution) in a $35 million Series C round which also involved Daun Penh Cambodia Group …

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Russian ride-hailing startup conquers America with a few million (not billion) US dollars in capital injections

August 31, 2018

inDriver, a ride-hailing app with Russian roots now operating internationally, has just raised $10 million from its historic investor, Leta Capital. Born in 2012 in Yakutsk, Siberia, this startup has an unusual business model: passengers enter the price they are willing to pay, while drivers accept the orders only upon agreement of the fare. An …

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Alibaba, Mail.Ru and Russian Direct Investment Fund in talks to launch e-commerce platform

August 30, 2018

Alibaba, Mail.Ru Group and the Russian Direct Investment Fund (RDIF) are in discussions to create an e-commerce joint-venture in Russia. No official statements have been made, but unnamed insiders have told the news agency Interfax and the business daily Kommersant that the discussions are “at an advanced stage.” Alibaba is a major player on the Russian …

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How Ukrainian and Russian hackers turned stolen press releases into $100 million

August 29, 2018

At a Kiev nightclub in the spring of 2012, 24-year-old Ivan Turchynov made a fateful drunken boast to some fellow hackers. For years, Turchynov said, he’d been hacking unpublished press releases from business newswires and selling them, via Moscow-based middlemen, to stock traders for a cut of the sizable profits. Oleksandr Ieremenko, one of the …

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Moscow-based “funtech incubator” invested in 20 companies in one year

August 29, 2018

The Moscow-based investment firm FunCubator has invested 35 million rubles ($550,000) in PlatformaVR, a Russian VR-oriented game publisher. The deal was closed in April and publicly announced earlier this month. The funding will be used to create new content as well as for PlatformaVR’s international expansion. The startup has “one of the strongest teams in …

Moscow-based “funtech incubator” invested in 20 companies in one year Read More

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